PC: Fox 11 Online
APPLETON, WI (WTAQ-WLUK) — Amazon, Target and Paramount Skydance all announced major layoffs in recent days, but the Appleton area hasn’t seen the same effect.
“A good part of the slowing likely reflects a decline in the growth of the labor force, due to lower immigration and lower workforce participation,” said Jerome Powell, chair of the Federal Reserve. “Though labor demand has certainly softened as well.”
Powell didn’t paint a promising picture of the job market.
“Although official employment data for September are delayed, available evidence suggests, both layoffs and hiring remain low,” said Powell.
In Wisconsin, the most recent data from August showed an unchanged unemployment rate, with a slight decline in both employment and workforce participation. Many experts say the market has tightened because of artificial intelligence, but one local job recruiter says there is still demand for certain white-collar positions.
“Customer service positions. Data entry is a big need,” said Monica Jasinski, team leader at SEEK Careers and Staffing – Appleton. “So we are seeing increases in office positions here in the Fox Valley. Really haven’t seen anything as far as layoffs.”
Jasinski added that hiring has picked up this fall, compared to spring and summer.
“I would say as far as recruiting, for what positions are currently out there right now, we haven’t seen a lot of impact with AI,” said Jasinski.
Jasinski says the AI impact could hit here as soon as early next year, and the layoffs may be a sign it’s already arrived nationally. The time and the magnitude are unknown, but it will bring change — to the workforce and even universities.
“90 million jobs will be going away because of artificial intelligence over the next 10 years,” said UW-Oshkosh Chancellor Manohar Singh. “Scary number. The good news then is, 170 million jobs will be created because of AI.”
Singh says UW-Oshkosh will redevelop their programs to adapt.
“A confluence of the two — professional and liberal arts,” said Singh.
It’ll need to adapt quickly, as the impact of AI hasn’t necessarily hit the Fox Valley job market yet, but it could hit soon.
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